Stock Analysis:Nuvasive Inc (NASDAQ:NUVA) Price Target Change
In an interesting research report disseminated by Canaccord Genuity on 11 December, Nuvasive Inc (NASDAQ:NUVA) had its price target boosted to $59.00. The firm presently has a solid Buy rating on shares.
From a total of 15 analysts covering Nuvasive Inc. (NASDAQ:NUVA) stock, 14 rate it a ”Buy”, 1 a “Sell”, and 6 a ”Hold”. This means that 67% of the ratings are positive. The highest target price is $68 while the lowest target price is $49. The mean of all analyst targets is $58.6 with a 17.33% above today’s ($51.35) stock price. Nuvasive Inc. was the topic of 11 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. BMO Capital Markets upgraded shares on October 6 to “Outperform” rating. UBS initiated NUVA stock in a recent report from September 22 with “Buy” rating. Finally, Northland Capital upgraded the stock to “Outperform” rating in a report issued on a July 30.
Approximately 256,774 shares of stock traded hands. NuVasive, Inc. (NASDAQ:NUVA) has risen 8.77% since May 8, 2015 and is uptrending. It has outperformed by 11.79% the S&P500.
The overall sentiment of institutions has decreased to 1.07 in Q2 2015. Its down 0.09, from 1.16 in 2015Q2. The ratio dropped, as 28 institutions have sold all the shares of NuVasive, Inc. that they owned while 79 funds have taken shares off the table. 40 funds have purchased shares for the first time while 75 added to their positions. These institutions now hold 44.97 million shares or 4.79% less than the 47.24 million shares they owned in 2015Q2.
The Fund Blue Jay Capital Management Llc currently is holding shares equating to 5.4% of its total portfolio in NuVasive, Inc. representing a total of 285,000 shares. Another fund,Murphy Michael R, is holding a total of 279,451 shares equating to 4.63% of their holdings. Additionally, Camber Capital Management Llc has a 1.10 million share stake in NuVasive, Inc. which represents 4.54% of their total portfolio. The Fund, Ghost Tree Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 3.8% of their total portfolio. Finally Decade Capital Management Llc, a fund which is based in the state of New York reported a total holdings of 264,212 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 16, 2015, shareholders of NuVasive, Inc. have witnessed 0 insider purchases, and a total of 7 insider sales equating to a net activity of approximately $3.55 million . Link Matthew sold 1,714 shares worth approximately $86,934. Powers Russell sold 5,806 shares worth approximately $299,822. Hannon Jason sold 11,962 shares worth approximately $622,254. Miles Patrick sold 30,000 shares worth approximately $1.58M. The company insider Blair Jack R sold 3,703 shares worth $185,749.
Nuvasive, Inc. is a global medical device firm in the spine market. The company has a market cap of $2.47 billion. The Firm focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. It has 42.41 P/E ratio. The Company’s marketed product portfolio is focused on applications for spine fusion surgery.
According to Zacks Investment Research, “NUVASIVE is a medical device company focused on the design, development and marketing of products for the surgical treatment of spine disorders. The Company’s product portfolio is focused on applications in the over $4.2 billion U.S. spine fusion market. The Company’s current principal product offering includes a minimally disruptive surgical platform called Maximum Access Surgery, or MAS, as well as a growing offering of cervical and motion preservation products.” Get a free copy of the Zacks research report on NuVasive, Inc. (NUVA).